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tv   Bloomberg Technology  Bloomberg  March 20, 2019 11:00pm-12:00am EDT

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chang in sanily francisco and this is "bloomberg technology." europe slams google with another fine totaling $1.7 billion. the third and possibly final eu penalty, but regulators are still scrutinizing other tech giants like apple, amazon, and facebook. apple continuing its hardware revamp, unveiling a second-generation airpods providing hands-free access to siri and 50% more talk time.
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u.s. digital service born in the wake of the bumpy rollout of now it is stepping up efforts to give americans better access to government services. our top story. google has been fined $1.7 billion by the european union in the latest antitrust judgment. it is the last of a trio of probes that have led to a total of $9.3 billion in penalties for google. the search giant is making changes. risk of newat less finds in the future. cite the numbers we have now in the intentions of google in the decision, this is also to say we don't have a noncompliant issue as it is now. we will keep following this. positive that
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google takes steps that allows for more consumer choice. emily: joining us to discuss in washington is the ceo at a shopping search engine which operates in 22 countries and competes with google in europe. garrett kumal walk us through the finer print. this is pretty much baked in. investors are not concerned about the finds that seem to cost a ton of money. googles like the heat on from europe after 10 years of what google called discussions with the eu looks to be closing for them. i don't think it means there will never be -- they will never be looked at again by european competition authorities, but there are bigger fish to fry. amazon, apple, facebook, with the last 10 years have shown is
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that european regulators can go after the big tech companies, they can extract large fines, they can get political support back at home without getting major pushback from consumers. emily: you have applauded the decision, richard. what does google changing its practices in this area mean for your business? richard: thank you for having me. what i would say is that this fine today is something that we have welcomed and consumers have welcomed. it is not going to change an awful lot in the marketplace. google has been given basically a cease-and-desist order, which basically says, stop doing what you have been doing, and they stopped doing it in 2016, but in these two-sided markets, basically the market has tipped in google's favor. they are going to come out of this and go, we just paid a tax for basically taking over another market. we asked for the commissioner to go further and force google to put right the wrongs it had done
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to this market, just like it had done in shopping indian droid. emily: what would putting right the wrong mean? to your point, google concern -- control 70% of this particular ad market from 2006 through 2016. richard: what it would mean is effectively market share, you have to look at this and say google has all the data, basically it has all the market, people look at it and say, why can't you compete? we can't compete because they have this entrenchment with the publishers and the only way that can happen is if google was forced to give up some market share, which it looks like the commissioners unwilling or unable to do. it, what has google's response to this then? i know they pointed to this being just a few complaints. gerrit: google's response in these situations is that they won because they have the best
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business, that they have the best algorithms to provide these kinds of ads and products to the people who pay for them, but it is true -- when they were in control of 70% of the market, that also gives them the power to continue and grab more of it. it is difficult to see exactly how that would be changed. at this point, google and its investors are pretty confident that they are not going to be kicked out completely from these markets. the fines, they are willing to pay them and they will continue doing the business that they have. emily: if google has owned 70% of this particular ad market, with these changes, how does that percentage or market share change? richard: i don't see it changing much at all. they will continue to control this market and have at least 70%. nothing has really changed in their behavior since 2016, when they removed these exclusivity clauses. i think you have to look at the broader context and say, this is a company that has lost its moral compass.
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this is the third time it has been found guilty of anti-competition. it is a very big fine today along with the other big fines. from google's perspective, it is just a tax to take over more markets. emily: meantime, the eu commissioner said that the eu is not worried about other compliance issues, but the eu is likely going to train scrutiny on amazon, apple, other big tech companies. what other possible action are we watching for? gerrit: some of those companies have faced large penalties when it comes to taxes, and eu officials deciding the companies have not exactly paid the taxes that they are owing in the eu. when it comes to competition, we have not seen as large as the google fine. we do know there is a probe into amazon. we talk all the time here in the united states as well about amazon and antitrust and its position in the marketplace,
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especially when it comes to them developing products to sell on their own marketplace and compete against the merchants who use amazon to find consumers. it is a space to stay tuned and watch with the eu ends up doing. emily: all right, gerrit and richard, thank you both for weighing in. richard: thank you. emily: president trump said he will keep tariffs on china until he is sure beijing is complying with any trade deal, refuting speculation that the two nations will agree to roll back duties as part of a lasting truce to the trade war. hopes thats dim round-the-clock trade negotiations between the two biggest world economies could lead to them removing the roughly $360 billion in tariffs they have imposed altogether. president trump said he remains hopeful about the talks. president trump: we are getting along with china very well. president xi is a friend of mine. the deal is coming along nicely. we have our top representatives going there this weekend to further the deal. but we are taking in billions of
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dollars right now in tariff money. for a keyword of time, that will stay. emily: coming up, apple continues to build anticipation ahead of its media event on march 25. it is revealing a new version of its airpods. we will bring you all of the details next. check us out on the radio, listen on the bloomberg app, and on sirius xm in the u.s. this is bloomberg. ♪
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emily: another day, another apple announcement. company unveiled its second generation airpods with hands-free access to siri and 50% more talk time. $150 a pair. the goldman sachs ceo will be a special guest at next week's
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much-anticipated event. joining us with more is our bloomberg tech correspondent. i was hoping for opera -- oprah, but i will take david solomon. why is he going to be at the event? >> according to sources we spoke to, david solomon will be in attendance, he won't be on stage. because applen is and goldman of an upcoming partnership around a joint credit card that will be tied to apple pay. because of the annual fees and credit card processing fees, this would generate some sort of additional revenue for apple, who was looking for additional revenue sources through services businesses. withfits in very nicely the rest of the services puzzled it will talk about with video streaming and magazine subscriptions on monday. emily: this is an entirely new thing, a joint credit card between goldman and apple. it feels like a different animal than a new entertainment bundle. mark: it is a different animal. it again contributes to the same
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bottom line as the video service would, the overall services revenue, the different subscriptions they are trying to shoot for, obviously credit cards come as part of a subscription -- you pay an annual fee every month or every year for a credit card of this nature. it is to be seen what the actual selling point would be. there are lots of premium credit cards on the market already. i will be curious to see who they are partnering with on the rewards side, whether it is travel, cashback, points, all sorts of features.that are out there currently . emily: you are here for the third day in a row talking about the third apple hardware upgrade in three days. tell us about the new airpods? mark: lucky me. the new airpods are second-generation, but i sort of look at this as a 1.5 or 1.75 or an airpods s so to speak. these were meant to be released last year, but apple held him back a bit because they were hoping to launch them
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simultaneously with the wireless charger that is still not out. sose include siri support, you can say, "hey, siri" and be able to talk with your voice in the headphones. 50% more battery for talk time, now three hours of talk time instead of about two hours. people who have had airpods for almost two years now, the battery life is starting to wane. these are small headphones, small batteries. battery life decreases over time. there will not be a new pair for people who want to upgrade. emily: airpods have been a sleeper hit, but i $159, how big a deal are they for apple's bottom line? and wearables in general? mark: there is this discussion that apple is looking for products to replace the iphone or to combat the slowing sales that we saw in china at the end of last year, but i'm starting to look at it differently. they are doubling down on the iphone, by someone -- coming up
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with these recurring revenue streams around the iphone. the airpods are exclusive to the iphone. without the iphone, they are not a thing. likewise with the apple watch. without an iphone, the apple watches not a thing. the same will be said for the apple augmented reality headset. that is also going to be iphone connected. emily: mark, we will see if you are back here tomorrow. i will be disappointed if you are not. start looking for a suit. thank you for stopping by. ford has announced it will spend $900 million and hire 900 workers to build electric cars in michigan. it is cutting a shift of workers at its flat rock plant because of slow sales him about it is adding workers to build next-generation vehicles. here to discuss is keith, who joins us from detroit. forddo we know about what
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is actually planning to build with these new workers? >> they are going to continue to build mustangs in this plant, but they are going to add a new electric vehicles and they are no longer going to produce the autonomous vehicles. it will be electric cars and it will be mustangs from 2023 onward. they are separately building an autonomous assembly center somewhere in the detroit area over the next couple years. that is another $50 million investment. what they will do their is take cars already built up and they will outfit them with the software for self driving technology. emily: production does not even start until 2023. talk to us about ford's position or lack thereof in the ev market versus other automakers. keith: everyone is chasing tesla. fortis spending $11 billion to develop a whole raft of electric vehicles. its first one will be coming next year.
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they say it is a mustang-inspired 300-mile crossover electric vehicle. sort of a souped-up suv powered by a battery. that is going to be the first foray. they are trying to make their electric vehicles as tesla has ofe, sexy, rather than kind an eco-play. emily: right, overly practical. what does this say about their broader restructuring? keith: so, they are really trying to make a bet on the future with electric vehicles and self driving vehicles, but the return on those at this stage is distant. they still have to churn out the the big pickup trucks that make them their money and our financing their future. emily: what happened to their plans to work in mexico? keith: so, they canceled a small car plant in mexico a couple years ago as trump was coming into office.
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then they were going to build ev's in michigan. they moved that to mexico. they are now going to build some ev's in michigan after all. they have been going back and forth on the whole electric vehicle in mexico or the united states. they are also taking a commercial van out of spain and they are going to move that to mexico. they still will have mexican production, but they are beefing up u.s. production, as well. emily: what do you make of the timing of this announcement on the heels of gm announcing it would idle a plant in ohio, with president trump did not much like? keith: it is not coincidental at all. ford is trying to make a little hay here. much of what they announced today they have announced previously in a different package. the investment amount of $900 million was previously announced. the 900 jobs were previously announced. the big change is that they are going to build electric vehicles in this flat rock, michigan,
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plant. emily: all right, chasing tesla. keith, thanks so much for that update. had over, the u.s. has 30,000 power outages in the last 10 years. how companies like bloom energy are trying to build a more reliable and environmentally friendly solution. and bloomberg tech is live streaming on twitter. breaking newsbal network tictoc on twitter. this is bloomberg. ♪
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ft is expected to make its nasdaq debut in nine days. one analyst says the ipo filing omits necessary details to create a financial model of the company.
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"it is never good when companies decide to not be straightforward about the math of their business, and these guys told us some is nothing you need to build a model." noturther said they have been forthcoming in metrics like separating the acquisition costs of drivers from passengers. it was given its first buy rating on wednesday morning, meanwhile. firefighters have extinguished a petrochemical tank fire in houston, texas, that blazed almost four days. it began at the intercontinental terminals company when a leaking chemical tank ignited, sending smoke above the city. authorities have assured residents that the smoke is not a threat to public health. but it does underscore the need to find clean energy solutions. joining us is the bloom energy ceo. linn energy allows companies to generate clean energy. we have had the fires in
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houston, the fires in california. why is it taking so long for clean energy solutions to catch on? >> this is the scale problem of a very large infrastructure in a place where electricity is becoming a human need a lot more so than it was years ago. just pick about the normal brick and mortar that did not depend so heavily on electricity. today it is going digital. digital runs on electricity. that electricity has to be reliable, resilient, clean, affordable. energy is a multifaceted issue. try to bring is not any one element of it, but a platform that can integrate all of these elements together. emily: explain what bloom energy energy does. use natural gas to make energy. k.r.: we use natural gas or biogas to generate electricity. imagine a home depot store.
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right in the back of the store, we can put this bloom energy energy server. natural gas, the same gas that heats your house, goes through a pipeline at very low pressure, goes into our system. there is no fire, there is no combustion. using a proprietary electrochemical process using a fuel-cell, we convert the chemical energy to electrical energy without any fire. that creates clean energy. emily: bloom energy was founded almost two decades ago. you did just go public. when it was founded, it sort of -- there were these great expectations about clean tech having its moment. clean tech has still not had its moment unless it is slowly happening now with tesla. why do you think that is? firstif you look at the cell phone and how long it took for cell phones to become commonplace in the mainstream, if you look at the first pc and how long it took, it was about 3-4 decades.
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if you look at where we are on that curve, i'm extremely confident. already, we are becoming mainstream. businesses are more and more relying on distributed energy generation, which is part of cleantech. 10 years from now, you will see a lot more adoption of it. emily: is the moment 10 years from now? k.r.: the moment is now and the moment will pick up and become even more ubiquitous 10 years from now. emily: when we see the money? bloom energy is not profitable still. we have been net income positive the last two quarters we have reported. trend topecting that be strong in the second half of this coming year. we announced that. confident wery will be financially sustainable and profitable as we go forward. emily: so, with the pg&e and the california fires, pg&e filing for bankruptcy, there is a loss
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of confidence in the whole grid -- what do you think the fallout from that is going to be and how will it affect clean energy? k.r.: more and more companies are going to rely on micro-grids. the way for you to think about a micro-grid is should there be something wrong with the macro grid, you can isolate yourself and have this building have the electricity and all its needs taken care of using a micro-grid. those will be bloom-like systems along with other energy sources integrated. whatever you have is integrated into a micro-grid. in the last three years, you had more than 50 installations of micro-grids for our partners. just now, we are going to announce today and tomorrow two different companies, one is extreme networks, they are headquartered in silicon valley, because they lost power so often they are using a micro-grid for
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their headquarters. emily: you power some big tech customers. apple, at&t, softbank, walmart, home depot. as the grid changes, how do the problems with outages and we just saw a big facebook server issue --how do those problems get smoothed out? k.r.: the micro-grid will be significantly more reliable and more resilient. let me give you an example. two super typhoons and there was a 6.7 earthquake and the epicenter was half a mile from where our energy servers were. we continue to operate through the super typhoons and the earthquake in spite of what happened. and that is the reliability. emily: all right. bloom energy ceo, thank you so much for stopping by. k.r.: thank you. emily: coming up, the booming kids content on youtube has
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created a minefield of ethical and legal issues for its parent company. what is google doing to protect kids as viewership rises? that is next. this is bloomberg. ♪ this isn't just any moving day.
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emily: this is "bloomberg technology." youtube has struggled to remove inappropriate content since 2005. one particular problem area is content or kids. there are so-called kidfluencers and box opening videos. personalities use a sponsored and paid content in videos. lobbying groups are asking lawmakers to crackdown on stuff aimed at children and to clean up the platform like removing children's videos from the premium ad program and made it even worse. joining me to discuss, mark bergen, and we have a managing
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partner who covers the internet, including google, facebook and apple. it doesn't take a genius to spend 10 seconds on youtube kids and see there are problems. what are the problems? mark: they have been dealing with more outlandish and dangerous videos. mainstream videos are the most big stars. they are not doing anything wrong. youtube built a system where it is successful to be engaging, un-boxing videos are a perfect case. even if the company has not paid for it, it is not clear. they are saying children are very impressionable. youtube claims no one under 13 should be using its site. that is so disingenuous. if you can search for many videos kids over 13 would not watch, and there is plenty of content.
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mark: the un-boxing stars are homegrown. they are not disney or other companies building streaming services. youtube has them and wants to promote them. they are a key driver of growth. at the same time they are getting into regulatory issues. they have youtube kids, which is an app designed for children under 13. we have heard people talk about that. a lot of content is for toddlers, not eight to 12-year-olds. the major issue is they have around 18 million active subscribers, which is 2 billion worldwide, something too small. for google historically, it is not big enough to keep sustaining. they are the real point about what they are going to do. emily: what percentage of revenue comes from youtube kids ? >> we think it is somewhere
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around 5% of total revenue. we think they did somewhere between 10 billion dollars and $15 billion in revenue. probably $550 million a year in business advertising alongside of these kids content products. emily: we are watching a video by this famous kid influencer. it was some of her videos you found to be problematic. mark: these are groups that have complained to the ftc. she is an interesting case. she goes to target, walmart, a clothing line. she is shopping. i was told if this were nickelodeon on children's broadcast, the ftc would say that is an ad and you can't have more than 12 minutes of advertising for every hour of programming. youtube said it is fine. target said they didn't pay for this. it is a new version of sponsored content and promotional.
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some groups argue across as a moral line. they are arguing for the ftc and congress to say it is a regulatory issue. emily: after you contacted youtube, they pulled down a video. mark: there was a separate video. it wasn't from her main channel. that video they said violates -- said violates the rules about product listing. part of the issue in talking to the creators and people in the industry is it is not clear. the rules are changing, youtube has had problems re-drawing line in the sand. they are adjusting to strong policies. there is a sense that tens of thousands of creators -- it is hard to communicate. this is a benefit and downside of the business model is they have thousands of users and they can't tame them all. emily: traditional television has been regulated for years and youtube has avoided this. do you think there is a serious threat of regulation? right now i don't think there
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is a real serious threat. there is a blurry line with what is native and what is sponsored. part of the issue is that this world of influences we live in, they themselves are their brand. when you are your brand, everything is native and everything is sponsored. so i think as these influencers build businesses on their brands, taking kylie jenner with kylie cosmetics to $800 million business. there is huge volume and personal branding. as we see more success and it will be more difficult to suffer separate what is native and what is sponsored. emily: the goal of advertising is you want the ad to look as native as possible. youtube did give a statement saying youtube content creators are responsible for making sure they comply with laws. including paid product placement. if it does violate, we take
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action. that could include removing content. it is once again blaming somebody else. how can they trust content creators will abide by the rules? mark: the ftc did come down on musically, an app that was fined. this morning google was fined almost $2 billion by the european union. it had virtually no effect on the market. google is almost immune. it is a curse, and it is also their greatest strength. they have very few to no competitors now. that could be changing with apple jumping in and netflix, being more aggressive about kids content. emily: it is different though. do think those platforms will be a real threat to youtube? >> i don't see netflix as a threat. when we talk about influencers, it is more on instagram side, whether it is snackable content.
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instagram is shorter, youtube is longer. that is more a threat, versus netflix which is professional. emily: i know you will continue reporting on this story. thank you so much. coming up, working in the crossroads. silicon valley and washington talking to the administrators of the u.s. digital service. that is about the mission of the nonpartisan agency and how it could impact regulation. ♪
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emily: in the heart of washington, a nonpartisan technology group is working to bring government services through the use of technology. they have helped speed up
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veteran disability claims and breakdown technological barriers for immigrants looking for green cards. we spoke with the administrator and started talking about the bumpy history of the government and technology services. >> it is crucial. you don't always see people bringing what we call user centered design. it is thinking about the veteran, dr., student and how to put them at the center of the issue. if you write specifications and build software for a few years and don't talk to users, you don't end up with a good user experience. emily: you worked at google where things work at light speed. why move to where things are slow? first, it is the mission and the impact. the meaningfulness of the ability to see the impact you can have is gratifying.
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the other thing is technology, you can cherry pick. you can choose to serve one market. government needs to serve everyone. whenever you talk to someone over a thanksgiving dinner table, they can see this is the impact on my life. emily: has it been a culture shock? matt: [laughter] yes. we like to joke that it is like a bridge between the world of technology and government. the two worlds don't often speak well together. you can come into a safe spot and learn about how to speak the other language. emily: you worked under the obama administration, now trump, you don't set policy. you execute. what has it been like working for very different presidents? matt: we care about implementing systems so government systems, millions of that people use work really well. we have had support in both administrations. it is not a partisan issue to say technology is broken, and it is a system whether of any
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it is a veteran getting benefits or a student choosing to go to college. for them to get the assistance they need any service to work well. we have gotten great support, and we are gratified to make progress. emily: the president is taking on google, facebook, accusing them of bias. is that fair? matt: in my mind, i am not much -- i am just worried about if you have a doctor that wants to submit a payment for medicare, does that system work? it is fun to talk about after-hours, but in the same way d.c. doesn't always understand silicon valley, silicon valley doesn't understand d.c. the more cross-pollination, the better. emily: what does silicon valley need to understand better? in the area of techlash. matt: i was at sxsw and somebody pitched me on a start of an
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augmented reality dance lesson. silicon valley can think about services everybody needs, not just a few. emily: many democratic presidential candidates gathered there and are taking on big tech . we are seeing state attorneys general exploring whether google presents an antitrust case. do you think it does? matt: i don't want to take a position on that, but from the time i worked in government, there were a lot of very earnest people working to make sure the best quality of search results showed up. it is a question of the federal trade commission, people looking at consumer harm and good. that is a question people can look at. emily: what about the broader question, elizabeth warren saying big tech needs to be broken up, amy klobuchar saying she wants an investigation? do you think big tech needs to be broken up? matt: for me it is not a matter of breaking up as that big
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companies should realize they will be scrutinized. most realize that and are starting to accept the fact that they will have to think about their impact not just amongst consumers and markets but throughout the country and world. emily: you handle some of the most sensitive data, like medical records. google and facebook have sensitive data. is it clear we can't trust them? matt: if a tech company or any company loses the trust of its consumers, people will leave it. they have the choice to take data out or stop doing facebook or whatever. the part that interests me is if you think of the u.s. government, what is the trust and how can we make it work better? there was a poll that came out where the u.s. government was listed as if it were a company. of the top 100 companies it was
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dead last. there are a lot of ways technology can make people work better. emily: we are seeing areas where technology is failing. there was a mass murderer in new zealand, video getting on facebook and being reposted. in that case they were powerless to stop their own power. what can be done? matt: there is the notion of something you don't want to show off, like spam, then the notion of real-time things you don't want to show up. this idea of something going viral and people livestreaming really terrible stuff, i suspect tech companies haven't had the time to adjust to that specific model. i would not be surprised if there are engineers throughout silicon valley on how they can adjust. so that sort of thing doesn't happen as easily in the future. emily: we are seeing amazon and microsoft work with the government. this has caused employee protest
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especially in googles case. the pentagon said google ended a contract to help the government interpret aerial drone footage using google ai. is that a mistake? matt: reasonable people can have different viewpoints. i was speaking to the ceo of microsoft recently, he came to visit one of our staff meetings. we asked him questions. he had an interesting position that said microsoft is a platform. the platform should allow all kinds of people to come in and you can't anticipate different ways somebody will use a platform. it is the case people will be grappling with these issues for some time. emily: microsoft has made different decisions from google. google said they will not work with the pentagon whereas microsoft in the face of protests has said we will continue to work. is one decision better than the other?
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matt: it shows a little bit of the dna of the companies. microsoft is used to producing tools and doesn't worry about empowering customers. it shows the power that individual engineers and product designers have in silicon valley to make new changes in their company. if anyone is going to vote with their feet, we have lots of nonpartisan things that will help things work better. emily: what are your top priorities for the digital service? matt: veterans, how to improve health care. there is a ton of things that can be done. moving servicemembers' families. it is more stressful than it needs to be. we recently were honored to partner with veterans affairs to build a new website called that makes it easy to access benefits. emily: the diversity statistics of the u.s. digital service are impressive. you have got 50% women, 60% in
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leadership and 180 technologists across different agencies. how did you do that when google and facebook cannot figure it out? matt: we go to conferences, celebration of women in computer , lesbians who tech -- but we look all around the country. not just silicon valley. we want to go to arizona, ohio. what we have found is we get better results to our people we work with when we better represent america. we get to not only advertise our mission and impact and the things government can do well but we can also say you can have a leadership responsibility here. emily: matt cutts. from credit card services and hotels, this japanese e-commerce giant does it all, but can it keep up with amazon? this is bloomberg. ♪
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emily: since pioneering e-commerce in japan, rakuten has expanded to more than 80 businesses. offerings span from banking, insurance, online ads and drug delivery. they are losing ground to companies like amazon. i sat down with a representative to talk about the e-commerce. >> our model is to create a membership program and use data so we can [indiscernible] and provide to our merchants. emily: in japan some would say you are losing shares to amazon in e-commerce. is that fair? >> i do not believe so. totally different aspects of the
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how to count. emily: how would you characterize competition in japan? mickey: it is difficult to compare but as far as we are concerned, we are growing at the right speed. the challenges, logistics, we are engaging in logistics. emily: jeff bezos might be a little distracted lately. that could be an advantage. mickey: i think amazon is not concerned about japan. emily: he has doubled down on india. do you think they have not taken full advantage of japan? mickey: it is a different market. the consumers are sophisticated. the variety of the product they want is very high. they want to receive very clean package, not the amazon approach in the u.s. will do well in japan. more small stores, small
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merchants. we need to make them happy. the conception is different. we are more partnership driven. amazon wanted to dominate everything. we would like to help smaller margins. emily: who's a bigger threat jeff bezos or masayoshi son? mickey: everybody is a rival. we are one single service provider focusing one vertical. we provide our value as a package including inking, -- banking, telecom, credit card, insurance, shopping, travel, content. so if you want to focus on one vertical, it is risky. emily: masayoshi son is a competitor in the wireless and now has division fund investing
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huge amounts of money in tech companies. what do you think of the vision fund? mickey: he is an excellent investor. he may or may not make it. competition in japan, quality across our service will be better than anyone. for sure. and when we go to 5g, we will be 5g ready from the beginning. the only company in the world. i think the future looks good. there will be competition. they will try to do everything to block users moving to rakuten. maybe our growth will not be as fast as we think, but the structural difference is very clear.
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and i don't think anybody can match our quality and price. emily: one more question about the vision fund. do you think there are any issues with their ties to the saudi government? mickey: it depends on philosophy of the company. i am very careful about taking money. some companies do not care because money is money. but it depends on the character of the founders. some companies i have seen are becoming more careful about the source of the money because these innovation companies are very, very emotionally driven. it is more value driven and it is not just about money. some people are more careful,
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some people don't care. emily: is that a mistake not to is it a mistake to take money from the government tied to the murder of an american journalist? mickey: we don't know the true story. i don't think i can answer. for our portfolio company, we advise to be careful. emily: my interview there with the rakuten ceo. you can catch the full interview wednesday at: 30 p.m. eastern and 6:30 p.m. pacific. that does it for "bloomberg technology." on thursday we will cover lyft's ipo roadshow. we will sit down with two investors. bloomberg technology is livestreaming on twitter. you can check us out @technology and follow @tictoc. this is bloomberg. ♪
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>> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or employees. >> the following is a paid presentation for emeril's power air fryer 360. >> hey, everybody. it's emeril with huge news. we are introducing an appliance that now you can have in your home. are you ready to kick it up a notch? >>, we all love fried foods but we hate the health problems they can cause. what if you could make your favorite foods without so much of the unhealthy fat and calories?


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